ZIM Integrated Shipping Services (NYSE:ZIM) EVP Saar Dotan Sells 3,690 Shares of Stock

Key Points

• Executive insider sale: EVP Saar Dotan sold 3,690 ZIM shares at an average price of $30.32, generating $111,880.80. He retained 89,867 shares after the transaction.
• Stock and earnings: ZIM shares fell 3.2% to $29.11, near their 52-week high of $30.40. The company reported quarterly EPS of $0.53, below the $0.80 analyst consensus, while revenue of $1.78 billion was broadly in line with estimates.
• Analyst sentiment remains cautious: ZIM has a consensus “Hold” rating and an average price target of $19.83, despite several institutional investors increasing their positions.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Saar Dotan sold 3,690 shares of ZIM Integrated Shipping Services stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $30.32, for a total transaction of $111,880.80. Following the transaction, the executive vice president owned 89,867 shares of the company's stock, valued at $2,724,767.44. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Saar Dotan also recently made the following trade(s):

• On Friday, June 12th, Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00.

ZIM Integrated Shipping Services Stock Down 3.2%

NYSE ZIM traded down $0.96 during trading hours on Wednesday, hitting $29.11. The company's stock had a trading volume of 1,219,706 shares, compared to its average volume of 2,230,474. ZIM Integrated Shipping Services Ltd. has a 52 week low of $12.33 and a 52 week high of $30.40. The company has a market capitalization of $3.51 billion, a PE ratio of 25.34 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The company's 50-day simple moving average is $26.13 and its two-hundred day simple moving average is $26.29.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. Research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after purchasing an additional 788,514 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $89,845,000. Meitav Investment House Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company's stock valued at $102,934,000 after buying an additional 472,092 shares during the period. Yelin Lapidot Holdings Management Ltd. lifted its position in shares of ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock valued at $86,028,000 after buying an additional 40,000 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of ZIM Integrated Shipping Services by 2,475.1% during the 2nd quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company's stock worth $85,041,000 after acquiring an additional 3,143,783 shares during the period. Hedge funds and other institutional investors own 21.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZIM. Barclays raised their price target on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, August 27th. Zacks Research lowered shares of ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. JPMorgan Chase & Co. boosted their target price on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.83.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.